Gift giving in the business context is an integral part of the negotiation procedure when doing business. Gifting is done without expectations, as an expression or goodwill to selected recipients by an organization’s or business representative. The gifts carry a personalized message with the recipient’s full name, surname, first name, or initials on them.
7 Reasons Why it is Important to Gift Important Guests (In Business Context)
1. Personalized Local Gifting Creates Mutual Respect
Respect is vital for any positive outcome. A right gift is not only an expression of admiration to the receiver but also an indication that you highly esteem the recipient.
2. Gifting in the Corporate World Establishes Trust
When a business relationship starts between two parties, gifting helps in building confidence.
3. Gifting Helps in Setting a Tone
When a party brings a gift in a corporate engagement; it creates an encouraging mood, the receiver pleased with the gesture, builds a favourable working environment.
4. Personalized Local Gifting Helps in Celebrating a Culture
In the Malaysian culture, gifting is necessary for specific social and corporate occasions. The socket box, when used in gifting, not only signifies appreciation but also leaves the recipient with a taste of the Malaysian culture.
5. Local Gifting Expresses Gratitude for the Guest
It shows your appreciation for their support and partnership
6. Personalized Local Gifting Reminds the Receiver, of the Business Partnership and Relationship Formed.
It initiates dialogue with a business partner and an expression that they are esteemed.
7. A Personalized Local Gift Helps Convey Your Story to the Recipient or Client
It gives a deeper understanding of the organization’s value proposition.
5 Factors to Consider When Gifting in Business Context
- The organization’s policy on this.
- The appropriateness of the gift and proportionality to the recipient’s level.
- Ethics and morals surrounding gifting (in a corporate setting).
- A consideration of the timing.
- The recipients’ culture (if they value corporate gift giving).
When is the Appropriate Time to Gift?
- There are appropriate and common times for one to give gifts in the business world which are;
- After a project’s completion.
- In a new product launch.
- In celebration of a significant business milestone.
Personalized Gifts versus Conventional Gifts
Conventional gifts such as cakes, flowers and chocolates and other tokens of appreciation carry the same general thought of gifting. In giving a token of appreciation, the idea of appreciating is what counts more than the actual gift, in addition to improving relationships with VIPs, they boost engagement. Personalized corporate gifts, however, create a more memorable impression, especially for foreign VIPs. You want them to not just remember your company, but also your wonderful country.